Viking Voyager specializes in the design and production of replica Viking boats. On January 1, 2012, the company issues $2,000,000 of 8% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year.
REQUIRED…If the market interest rate is 8%, the bonds will issue at $2,000,000. Record (journal entries)
the bond issue on January 1, 2012, and the first two semiannual interest payments on June 30, 2012, and December 31, 2012
If the market interest rate is 9%, the bonds will issue at $1,869,921. Record
(journal entries) the bond issue on January 1, 2012, and the first two semiannual interest payments on June 30, 2012, and December 31, 2012.
If the market interest rate is 7%, the bonds will issue at $2,142,124. Record
(journal entries) the bond issue on January 1, 2012, and the first two semiannual interest payments on June 30, 2012, and December 31, 2012.
Please show work so i can understand how to do it thanks.
